The latest market analysis has unveiled a momentous surge in the global cryopreservation for in-vitro fertilization (IVF) market, reflecting an extraordinary growth trajectory in the coming decade. Valued at USD 461.4 million in 2023, this market is anticipated to escalate to an impressive USD 1,264.9 million by 2033, marking a robust Compound Annual Growth Rate (CAGR) of 10.6%.
This exponential growth is primarily driven by the escalating demand for assisted reproductive technologies (ART) worldwide. Cryopreservation, a pivotal technique enabling the freezing and storage of biological samples, plays a crucial role in enhancing the efficacy and accessibility of IVF procedures. As the adoption of ART solutions continues to rise, the cryopreservation market is poised to capitalize on this trend and expand significantly over the next decade.
Cryopreservation offers a critical tool for couples undergoing IVF, allowing for the preservation of eggs, sperm, or embryos post-retrieval. This frozen genetic material provides patients with greater flexibility and control over their family planning journey, contributing to the market’s substantial growth.
“The surge in demand for ART solutions underscores a fundamental shift in reproductive healthcare, with more individuals and couples turning to assisted reproductive technologies to realize their parenthood aspirations,” said a representative from FMI. “This market growth is supported by increased investments, research advancements, and technological innovations aimed at enhancing the efficacy and accessibility of IVF procedures.”
Key factors driving the market’s expansion include:
- Growing acceptance and utilization of IVF procedures globally
- Ongoing advancements in cryopreservation technologies
- Rising infertility rates
- Increasing awareness and acceptance of fertility preservation options
Looking ahead, advancements in cryopreservation techniques are expected to further improve success rates and expand the patient pool. The rising awareness among individuals delaying parenthood is also anticipated to fuel market growth, underscoring the immense potential within the cryopreservation for IVF market.
As the industry continues to evolve, stakeholders across healthcare, research, and investment sectors are encouraged to stay informed about these developments to leverage emerging opportunities in reproductive healthcare. The forecasted CAGR of 10.6% highlights the market’s resilience and potential for long-term success, reinforcing its role in advancing reproductive medicine on a global scale.
Key Takeaways: Cryopreservation for IVF Market
- The market for cryopreservation in IVF is expected to nearly triple in size by 2033, reaching a value of USD 1,264.9 million. This growth is attributed to a compound annual growth rate (CAGR) of 10.6%.
- The United States is a leading market for cryopreservation in IVF, with a projected CAGR of 11.2% and a valuation of USD 182.7 million by 2033.
- Europe is also seeing significant growth, with Germany and the United Kingdom experiencing CAGRs of 11.6% and 11.0% respectively. Germany is expected to reach a valuation of USD 54.8 million and the UK USD 37 million by 2033.
- The growth is driven by factors such as advancements in technology, increased awareness of fertility preservation options, and a growing healthcare infrastructure, particularly in the US.
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Competitive Landscape:
The market for cryopreservation in in-vitro fertilization (IVF) is fiercely competitive and fragmented, featuring numerous global players. Key participants are dedicated to tailoring their services to meet patient needs through ongoing research and development efforts. Furthermore, these industry leaders implement strategic initiatives such as partnerships, mergers, and acquisitions to enhance market presence and expansion.
Recent developments in the global cryopreservation for in-vitro fertilization market include:
- Vitrolife AB: In 2021, Vitrolife acquired LifeAire Systems, an Australian company specializing in air purification systems for IVF laboratories. This acquisition aims to enhance Vitrolife’s offerings in the IVF market.
- Irvine Scientific: In 2020, Irvine Scientific introduced a new vitrification solution designed to enhance embryo survival rates during cryopreservation.
- Thermo Fisher Scientific: In 2021, Thermo Fisher Scientific acquired Mesa Biotech, a California-based company known for developing diagnostic tests for infectious diseases. This acquisition is expected to bolster Thermo Fisher’s capabilities in the diagnostics market.
Other Prominent Players in the Cryopreservation in In-Vitro Fertilization (IVF) Industry are:
- Thermo Fisher Scientific Inc.
- Merck KGaA
- VWR International, LLC
- Avantor, Inc.
- Charter Medical Ltd.
- BioLife Solutions, Inc.
- Cesca Therapeutics Inc.
- Worthington Industries, Inc.
- Taylor-Wharton International LLC
Cryopreservation in In-Vitro Fertilization (IVF) Industry by Category:
By Product:
- Cryopreservation Media
- Cryopreservation Devices
- Dewars
- Cryogenic Liquid Cylinders
- Cryogenic Storage Tank
- Vapor Tanks
- Storage Alarm Systems
- LN2 Auto Fill Systems
- LN2 Sterilization Systems
- Cryo Control/Inventory Management Systems
- Storage Container
- Cryocanes
- Visotubes
- Canisters
End User:
- IVF & Fertility Clinics/Centers
- Biobanks – Research & Academic Institutes
- Cryo Shipping/Couriers
- Cryo Monitoring/Inventory Management
By Region:
- North America
- Latin America
- Europe
- South Asia & Pacific
- East Asia
- The Middle East & Africa (MEA)
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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